RE: 1.5m buy17 Apr 2026 13:26
Massive CCS update due soon ⏳ This project is a company maker in its own right 👍 HUGE.
Paul Haywood, Chief Executive Officer of Block Energy, commented:
"These results are a major technical milestone for Block. Post-injection sampling and third-party laboratory analysis has confirmed rapid and permanent mineralisation of CO2 in the reservoir, materially de-risking the project and enabling us to take the next steps toward development and commercialisation.
I'd like to thank Block's operating team, who successfully executed the pilot injection and maintained a professional monitoring scheme, as well as OPC's continued support on the subsurface and geochemical side. I'd also like to thank Rustavi Azot, our JV partner on this project, who provided the CO2 and made a contribution to the Phase 1 pilot activities.
Mineralisation provides a fundamentally different and higher-integrity form of storage as compared with conventional CCS and delivers permanent storage without the reliance on long-term trapping mechanisms. Our field is very well located for commercialisation, being within Georgia's industrial heartland and having a significant brownfield surface and subsurface infrastructure, which can be repurposed. We're therefore very excited to begin work on Phase 2 and what could become a material asset for the Company."
Prakash Kejriwal, Group Director of Indorama Corporation commented:
"The interim results from the pilot conducted by Block's team are very encouraging and provide a strong foundation for Phase 2 activities. We look forward to continuing our collaboration with Block Energy. This project has the potential to deliver a permanent carbon sink and support meaningful carbon-emission reductions, marking an important milestone for hard-to-abate industries".
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